How to Close Your Bank of America Savings Account

You can close a Bank of America savings account in person, by phone, or online, but the method depends on your account type and whether you have an outstanding balance

Bank of America lets you close a savings account through three main routes: visiting a branch in person, calling customer service, or using online banking if your account is in good standing. The fastest method is usually in person at a branch near you, where a representative can process the closure when ready and handle any remaining balance. If you cannot visit a branch, phone closure works but takes longer because the bank needs to verify your identity through security questions. Online closure through the mobile app or website is available for some account types but not all — the option appears in your account settings only if your account qualifies.

Before you close the account, you need to know your current balance, decide what to do with any remaining money, and make sure no automatic payments or transfers are still linked to it. The bank will not close an account with pending transactions or active direct deposits. If you have a very small balance (often under $25), some branches may charge a fee to process the closure, though this varies by location.

Key Takeaways

• In-person closure at a Bank of America branch is the fastest option and takes just a few minutes if your account has no pending activity.
• You must have a zero balance or arrange to withdraw or transfer your remaining money before the account can close.
• Stop any automatic payments, direct deposits, or recurring transfers linked to the account at least a few days before you close it.
• Phone closure requires identity verification and takes longer than in-person, but works if no branch is nearby.
• Keep your account open long enough to may support all pending checks have cleared and no unexpected charges appear.

Closing your account in person at a branch

Walk into any Bank of America branch with your ID and ask to close your savings account. Bring your debit card or account number so the representative can pull up your account quickly. The representative will show you your current balance, confirm there are no pending transactions, and ask how you want to handle any remaining money — you can withdraw it in cash, transfer it to another account, or have the bank mail you a check.

The entire process usually takes 5 to 10 minutes. The bank will give you a receipt confirming the closure. If your account has a small balance and the branch charges a closure fee (which is not standard but does happen at some locations), the representative will tell you before finalizing. After you leave, the account closes that same day, though it may take a few business days to stop appearing in your online banking.

Closing your account by phone

Call Bank of America customer service at 1-800-432-1000 and tell the representative you want to close your savings account. They will ask for your account number and Social Security number, then verify your identity by asking security questions about your account history. This verification step can take 10 to 15 minutes depending on how many questions they need to ask.

Once verified, the representative will check your balance and ask what you want to do with any remaining money. You can request a check be mailed to you, authorize a transfer to another bank account, or arrange to pick up the funds at a branch. Phone closure takes longer than in-person because of the identity verification, and you will not have a receipt in hand — ask the representative for a confirmation number and write it down. The account typically closes within one to three business days after the call.

Closing your account online or through the mobile app

Open the Bank of America mobile app or log into your online banking account, find your savings account, and look for a "Close Account" or "Account Services" option in the account settings menu. This option only appears if your account is in good standing with a zero balance and no pending activity. If you do not see the option, your account does not may have access to for online closure and you will need to use the phone or visit a branch instead.

If the option is available, click it and follow the prompts to confirm your identity and review the closure details. The bank will ask you to confirm that you have transferred or withdrawn all your money. After you submit, the account closes when ready in the app, though it may take a few business days to fully close in the bank's system. You will receive an email confirmation.

What to do before you close the account

Check your account for any automatic payments, recurring transfers, or direct deposits linked to it. Log into your online banking and look at your recent transactions and scheduled transfers. If you have direct deposit set up, contact your employer's payroll department and give them your new account number at least one week before the closure date. If you have automatic bill payments, log into each biller's website and update the account information or cancel the automatic payment.

Wait at least one week after stopping automatic payments to close the account, in case a payment processes after you thought you had canceled it. Review your account one more time to make sure no new charges or deposits have appeared. If you have checks linked to this account, wait until you are certain all outstanding checks have cleared — this can take two to four weeks depending on when you wrote them.

What happens to your money when you close

Any balance remaining in your account must go somewhere before the account closes. You have three options: withdraw the money in cash at a branch, transfer it to another Bank of America account you own, or request a check be mailed to you. If you choose the check option, ask the representative how long it takes to arrive — typically five to seven business days, though it can be longer depending on your location.

If you have a very small balance and the branch charges a closure fee, the fee will be deducted from your balance before the remaining money is given to you. After the account closes, Bank of America will not send you statements or notices about it. If you later discover an error or a charge that should not have happened, contact the bank within 60 days of the closure to dispute it.

Common reasons closure gets delayed

The most common reason a bank will not close your account is pending transactions — checks that have not cleared, transfers that are still processing, or automatic payments scheduled to come out. The bank will tell you which transactions are pending and ask you to wait until they clear before trying again. This usually takes three to five business days.

A second reason is an outstanding balance you did not know about. If you have overdraft fees or other charges that posted after your last check of the balance, you will need to pay those before closing. A third reason is that your account is flagged for fraud investigation or has other holds on it — this is rare but does happen. If the bank tells you your account has a hold, ask why and how long it will last before attempting closure again.

Frequently Asked Questions

Do I have to close the account in person?

No. You can close by phone or online if your account qualifies. In-person is fastest, but phone and online both work if you cannot visit a branch. Phone closure requires identity verification and takes longer, while online closure is when ready if the option is available in your account settings.

What if I have a negative balance or owe the bank money?

You must pay the negative balance before the account can close. Contact the bank to find out the exact amount owed, including any fees. You can pay by transferring money from another account, bringing cash to a branch, or authorizing a debit from another bank account over the phone.

Can I reopen the account after I close it?

Yes, but it is treated as a new account. You will need to go through the full account opening process again, including identity verification and initial deposit. There is no special process to reopen a closed account — you straightforward open a new one.

How long does it take for the account to fully close?

In-person closure is when ready, though the account may take a few business days to disappear from your online banking. Phone and online closures take one to three business days. If you have pending transactions, you must wait for those to clear first, which can add another week.

Will closing my savings account hurt my credit score?

No. Closing a savings account does not affect your credit score because savings accounts do not appear on your credit report. Only credit accounts like credit cards, loans, and lines of credit impact your credit. You can close a savings account without any credit consequences.